Zambezi Portland Cement Awaits Judgement From Lusaka High Court

The Zambezi Portland Cement has been awaiting judgment from the Lusaka High Court for a long time now. The case was registered in the court almost nine years back and since then, it has been going on without any significant results. The case is between Dr. Rajan Mahtani, who owns the Finsbury Investments limited and the Ventriglias, who are the sole beneficiaries of Ital Terrazzo Limited. Both parties are claiming their ownership over the cement factory and both have submitted various evidences and statements to support their claim. However, the quality of evidence differs significantly among both parties.

ZPC

The Zambezi Portland Cement is currently under the Ventriglias, who took control of the factory forcefully. This was the reason behind Dr. Mahtani launching the case at the Lusaka High Court. Furthermore, the Ventriglias have also counter-claimed that Finsbury Investments have not paid for the shares. This counter-claim has been proved false with various shareholder agreements and financial exhibits that prove that Dr. Mahtani holds 58 percent shares of the ZPC after paying the entire sum. His firm has also paid for the share capitals while the Ventriglias have not invested even single penny in that. Furthermore, independent auditor reports have proved that Dr. Mahtani is the sole joint-venture partner of the firm and the Ventriglias are only shareholders. Having the majority shares and joint-venture partnership, the ownership of the Zambezi Portland automatically shifts to Dr. Rajan Mahtani. It is therefore, strange to see the court drag the case for almost nine years.

The current judge handling the case has announced that the hearing is closed. However, both parties are required to submit their oral and written submissions for evaluation of which final judgment date will be announced.